1832 Asset Management L.P. Cuts Stake in Novo Nordisk A/S (NYSE:NVO)

1832 Asset Management L.P. trimmed its position in shares of Novo Nordisk A/S (NYSE:NVO) by 31.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,620,786 shares of the company’s stock after selling 752,243 shares during the period. 1832 Asset Management L.P.’s holdings in Novo Nordisk A/S were worth $231,351,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in NVO. Folketrygdfondet lifted its holdings in Novo Nordisk A/S by 1.4% during the first quarter. Folketrygdfondet now owns 8,756,034 shares of the company’s stock valued at $1,124,275,000 after purchasing an additional 124,770 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Novo Nordisk A/S by 10.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,589,222 shares of the company’s stock valued at $1,102,857,000 after purchasing an additional 823,036 shares during the period. Capital International Investors raised its position in shares of Novo Nordisk A/S by 22.3% in the fourth quarter. Capital International Investors now owns 7,114,931 shares of the company’s stock valued at $736,121,000 after purchasing an additional 1,297,536 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of Novo Nordisk A/S by 1.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 4,254,180 shares of the company’s stock valued at $607,242,000 after buying an additional 58,935 shares in the last quarter. Finally, GQG Partners LLC boosted its holdings in Novo Nordisk A/S by 654.6% in the 1st quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock worth $466,485,000 after buying an additional 3,151,584 shares during the period. Institutional investors own 11.54% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on NVO shares. The Goldman Sachs Group started coverage on shares of Novo Nordisk A/S in a report on Thursday, May 30th. They set a “buy” rating and a $156.00 target price on the stock. StockNews.com upgraded Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Argus raised their target price on Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. BMO Capital Markets decreased their price target on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a report on Monday, September 16th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $145.17.

Novo Nordisk A/S Stock Performance

NYSE:NVO opened at $127.51 on Friday. The stock has a market cap of $572.21 billion, a P/E ratio of 43.97, a PEG ratio of 1.48 and a beta of 0.42. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The business’s 50-day moving average price is $133.13 and its two-hundred day moving average price is $133.26. Novo Nordisk A/S has a twelve month low of $86.96 and a twelve month high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. The company had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.91 billion. As a group, equities analysts predict that Novo Nordisk A/S will post 3.11 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 16th were paid a $0.5126 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a dividend yield of 0.7%. Novo Nordisk A/S’s dividend payout ratio (DPR) is 24.83%.

Novo Nordisk A/S Company Profile

Novo Nordisk A/S, together with its subsidiaries, engages in the research and development, manufacture, and distribution of pharmaceutical products in Europe, the Middle East, Africa, Mainland China, Hong Kong, Taiwan, North America, and internationally. It operates in two segments, Diabetes and Obesity Care, and Rare Disease.